LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 86TH LEGISLATIVE REGULAR SESSION
 
April 2, 2019

TO:
Honorable Brian Birdwell, Chair, Senate Committee on Natural Resources & Economic Development
 
FROM:
John McGeady, Assistant Director     Sarah Keyton, Assistant Director
Legislative Budget Board
 
IN RE:
SB728 by Kolkhorst (Relating to the verification of information provided to the comptroller and contained in reports on compliance with agreements under the Texas Economic Development Act.), As Introduced

No fiscal implication to the State is anticipated.

The bill would amend Section 313.032 of the Tax Code to require any recipient or former recipient of a Chapter 313 limitation to contract with an independent certified public accountant to verify data submitted by the recipient or former recipient to the Comptroller's office under Section 313.032(a)(2).

Companies submitting information to the Comptroller for the biennial report required by Tax Code Section 313.032 are currently required to attest to the accuracy of the data submitted, and certify such data. This bill would require applicants to contract with an independent certified public accountant to verify data submitted to the Comptroller's office.

The bill would take effect September 1, 2019.

Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
304 Comptroller of Public Accounts
LBB Staff:
WP, SZ, SD, SJS